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1816 S Memorial Dr
New Castle, IN 47362

$3,256,000 USD

Convenience Store For Sale  •  2,325 SF

Property Details

  • Property Type Convenience Store
  • Total Building Size 2,325 SF
  • Lot Size 0.52 AC
  • Building Class B
  • Year Built 1999
  • Cap Rate 5.25 %
  • Tenancy Single
  • Zoning C
40 Walk Score

Highlights

BRAND NEW 20-YEAR ABSOLUTE NNN LEASE: 14+ years remaining on new 15-year Absolute NNN lease with attractive 10% rental escalation 1/1/36!
CORP GUARANTEED LEASE: 7-Eleven, Inc., the Irving, Texas-based C-Store chain operates (DBA. Speedway), investment grade rated A- (S&P)!
ACCELERATED/BONUS DEPRECIATION: The property may qualify for 100% Bonus Depreciation (Conveying both building and land)
STRONG HISTORICAL OCCUPANCY/TRAFFIC COUNTS: Successfully open and operating for decades with excellent drive-by visibility/access!
2026 DEMOGRAPHICS: Total Population (5MI): 27,476 | Average Household Income (1MI): $83,422
ABSOLUTE NNN LEASE - Conveying both building and land with ZERO management responsibilities! Great for passive investor!

Property Flyers

Cap Rate: 5.25 %

Major Tenants

Tenant SF Occupied Lease End Date
Speedway 12/31/2040

Amenities

  • Signage

Parking Details

Parking Available: Yes
Reserved: No
Type: Surface
Included in Rent: Yes
Kendall Carlsen 480-718-5555 Commercial Investment Advisors, INC
Kendall Carlsen 480-718-5555 Commercial Investment Advisors, INC